Investor Presentation

January 2016 FORWARD LOOKING STATEMENTS

This document contains statements that constitute forward-looking statements within the meaning of applicable securities legislation. These forward-looking statements include, among others, the Company’s prospects, expected revenues, expenses, profits, expected developments and strategies for its operations, and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “achieve”, “achievable,” “believe,” “estimate,” “expect,” “intend”, “plan”, “planned”, and other similar terms and phrases. Forward-looking statements are based on current expectations, estimates, projections and assumptions that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; and availability of products, qualified personnel, manufacturing capacity and raw materials. If any of these uncertainties materialize, or if assumptions are incorrect, actual results may vary materially from those expected.

2 OVERVIEW OF TRICAN

YEAR TO DATE SEPTEMBER 30, 2015 . Large, North American, full service pressure pumping company Revenue by Geography

44% 56%

. 1,083,500 HP available fracturing USA capacity

. 87 Cement & 37 Acid Units

Revenue by Service Line

3% 2% 4% 3% . 29 Coiled Tubing & 61 N2 Units 9% Fracturing Cementing Nitrogen Coiled Tubing . Focus on safety, technology, and Acid & Specialty Chemicals operational performance Industrial & Pipeline Services 79%

3 OVERVIEW OF TRICAN

. 577,000 HP (53% of equipment) parked since 2014 Historical Fracturing HP 1,400,000 • 35% parked in Canada 1,200,000 • 62% now parked in USA 1,000,000 . Equipment parked whole and not 800,000 scavenged 600,000

400,000

. Continue to maintain R&M 200,000 expenditures during downturn 0 2007 2008 2009 2010 2011 2012 2013 2014 2015*

. * Equipment after International divestures. 60,000 HP bi-fuel units

4 COMPETITIVE ADVANTAGES

. Strong safety record • 2015 YTD injury frequency rate of 1.07

. Operational performance • Efficiency saves clients money

. Technology • MVP Frac TM • TriVert Diverting Agent • Lightweight cements • Recycled water

5 CANADA

6 CANADA

. Trican is the largest pressure pumper in Canada

. Trican offers full services in Canadian market which balances revenue and profitability • Large cementing market share • Strong market share in other services

. Canadian market has fewer competitors (6 vs. over 30 in the U.S. market)

. Trican has a strong customer base in Canada • Numerous long-term clients

. Canadian dollar to U.S. dollar exchange rate helps producer economics

7 CANADA

. Technical advantage in Canadian market which pays off in downturn • 20% of fracturing work in 2014 done with MVP frac

• Geological and reservoir services integrated into frac designs

• Lightweight cement blends

• Numerous engineers embedded in client offices

• Technology retains and grows market share and improves returns in a downturn

. Canadian Q3 operating margin: 19.3%

8 GEOGRAPHIC COVERAGE

Horn River FORT NELSON HIGH LEVEL Shale Manitoba

Montney FORT ST. JOHN Shale RED EARTH

GRANDE PRAIRIE Duvernay WHITECOURT Shale HINTON NISKU LLOYDMINSTER

DRAYTON VALLEY Viking RED DEER PROVOST DRUMHELLER Tight Oil

Tight Gas BRANDON BROOKS ESTEVAN

MEDICINE HAT

Bakken Spearfish Cardium Lower Shaunavon Shale Tight Oil Tight Oil

9 CANADA EQUIPMENT

Canadian HP Growth . Current available Canadian fleet 500,000 450,000 • 440,000 fracturing HP 400,000 350,000 • 55 Cementing units 300,000 250,000

• 38 N2 Pumpers 200,000 150,000 • 19 Acid Units 100,000 50,000 • 16 Coil Units 0 2008 2009 2010 2011 2012 2013 2014 2015*

* Anticipated HP at year-end based on approved budgets, which are subject to change

10 CANADA - OUTLOOK

. 35% of equipment parked during 2015 • Anticipate keeping remaining equipment highly utilized

. Parked equipment ring fenced and ready to go to work when activity improves

. Will right size fleet up or down to maximize utilization and profits

. Pricing down 25% off 2014 peak levels

11 CANADA - OUTLOOK

. Customer base strong • Have had market share improvements

. Cost cutting measures have substantially improved second half results • Still working on additional cost savings

. Customers anticipated plans for Q1 2016 look strong at this time • Core customers remaining busy in 2016

12 CANADA – COST CUTTING

. Product Costs • Largest element of cost structure • Have achieved 10-15% reduction

. People • Have reduced Canadian employee base by 45% • Total salary and benefits cost reduced by 57% • Expected annual fixed cost reductions of $86 million

. Other • Implemented significant cost cutting measures for all other costs

. Fixed costs reduced 42% year-over-year

13 USA

14 GEOGRAPHIC COVERAGE - FRACTURING

MINOT Bakken

Marcellus

Mid-Con Utica Barnett

SHAWNEE Current Active US Crews

SPRINGTOWN . Oklahoma: 2 crew

ODESSA . Marcellus: 4 crews . Current Active HP: 217,500 Permian HOUSTON . Current Parked HP: 427,500 MATHIS . Cement and Coiled Eagle Ford Tubing services in the Permian and Eagle Ford

15 USA – OUTLOOK

. Pricing stabilized - down approximately 30% from peak

. Shut down 2 fracturing crews in Texas in October resulting in additional cost savings • Cost savings of approximately $4 million per quarter

. Expect to operate 35% of available equipment over the remainder of 2015 and 2016

. 5 of 6 crews committed to Q2 2016 • 4 of 6 crews committed to 2017 • One spot market crew in Marcellus

16 USA – OUTLOOK

. Anticipate Q1 2016 activity to be strong on committed crews based on current customer plans • Will continue to monitor customer programs and adjust equipment up or down

. Competitive landscape improving as less equipment available

17 US - COST CUTTING

. Product costs • Have achieved 15-25% reduction to date

. People • Have reduced employee base by 60% • Salary reductions of 10% on remaining employees • Expected annual fixed cost reductions of $76 million

. Equipment • Repair costs have not declined on a $/HP basis as we continue to maintain equipment • Parked equipment ring fenced and available to go to work

. Fixed costs reduced 51% year-over-year and 16% sequentially

18 CORPORATE - COST CUTTING

. People Costs • Salary and benefits reductions - Salary reductions of 10% - Temporary suspension of certain benefits

• Reduced Corporate employee base by 40%

• Total annualized cost reductions of $24 million

. Other • Implemented significant cost cutting measures for all other Corporate expenses

. Corporate costs down 70% year-over-year

19 COMPLETION TOOLS

20 COMPLETION TOOLS

. Operations in Norway, Russia, USA and Canada . Offer multistage frac tools, completion and intervention tools for both open hole and cemented installations . Competitive advantage with patented completion system that has capacity for 240 cemented stages . Grown Norwegian and Russian revenue and profitability in 2015 due to market share growth . 2015 demand down in North America

21 INTERNATIONAL

. Closed sale of Russian business for $195 million CDN • Includes first tranche of working capital adjustment • Sold for 6.4x 2014 EBITDA

. Closed Saudi Arabia and Australia as scale not large enough to sustain International infrastructure

. Kazakhstan sale in progress

22 GETTING THROUGH THE DOWNTURN

23 GETTING THROUGH THE DOWNTURN

. Size operations to current activity levels

. Lower costs

. Keep utilization high on activated equipment

. Work for the right customers

. Maintain equipment

. Provide differentiating safety, efficiency and technology

. Increase scale in Basins to lower fixed costs

24 STEPS TO MANAGE THE DOWNTURN

. Sell Russia, Kazakhstan, and spare international equipment in closed regions

. Maximize profitability and cash flow from remaining operations • Canada doing well • Costs lowered in US to make positive cash if utilization high

. Continue to de-lever the balance sheet and work with lending group

25 POSITIVES AFTER THE DOWNTURN

. Strong earnings on reduced cost structure as utilization and pricing improve

. Competitive landscape changing • Baker-Halliburton merger will create opportunities in all of our markets

• U.S. competitive landscape will change - Smaller competitors struggling to survive - Mergers of mid-sized companies improves market - Equipment attrition will be significant

26 POSITIVES AFTER THE DOWNTURN

Sand per Stage . Substantial completions 400,000 350,000

backlog 300,000

• Currently estimating over 250,000 4,500 drilled but 200,000 150,000

uncompleted wells in the 100,000

US market 50,000

- • Bodes well for an 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 increase in fracturing demand coming out of Frac Stage Intensity the downturn before drilling increases

. Stage count/well and sand/stage continue to increase

Source: Wall Street research, Pac West

27 COMING OUT OF THE DOWNTURN

. We will focus on: • Being on the leading edge of cost and operational efficiencies • Achieving cost advantages through size and scale in active regions • Separating ourselves through technology, safety, service quality and innovation

. Long term, need to lower cost to producers without lowering our margins • More efficient, lower cost fracturing business through equipment designs, technology and reductions in costs

28 INNOVATION

29 INNOVATION

. Trican focuses on separating itself with technology . Technology must reduce $/BOE for our customers or lower our costs

. MVP FracTM • Patented chemical solution that reduces proppant settling in slick water fracs

• Strong market acceptance in Canada

• MVP FracTM used in 20% of all wells fractured by Trican in Canada in 2014: up 100% vs. 2013; approximately $200 million in frac revenue • Recent case studies show 20% increased production in the Cardium and 30% increased production in the Montney • Currently gaining market acceptance of system in U.S.

30 INNOVATION

. TriVertTM Diverting Agent • Can be used in new completions or refracturing treatments

• Redirects fluid into new sections of the wellbore

• Contains particles that dissolve with time and temperature

• Expected to result in increased production without further well intervention

• Gaining good market acceptance in the U.S.

31 TRICAN RESERVOIR SOLUTIONS

. Geological Solutions • Offer unconventional rock analysis, core testing and rock mechanics

. Reservoir Solutions • Reservoir model that integrates geological and frac data to optimize long-term reservoir recoverability

32 SUSTAINABLE INNOVATION

. EcoClean Fluids • Continuing to expand our line of environmentally friendly fracturing fluids

. Water Management and Reduction • Developed a 100% recycled water crosslinked fluid solution with no mechanical treatment • Recycled water used on most fracturing projects in the U.S.

33 FINANCIAL OVERVIEW

34 DEBT STRUCTURE

. Current outstanding and available debt at November 30, 2015 • $335 million in fixed rate notes payable - $147 million due by April 2016

• $235 million drawn on $410 million revolving credit facility

• $233 million in cash and available debt as of November 30

. New covenant agreement in place

35 CASH FLOW

. Managing cash flow and liquidity a key focus in 2015

. Dividend suspended until financial performance improves

. Total capital spend in 2015 expected to be approximately $30 million • No expansion initiatives will be considered until financial performance improves

. 2016 Capex anticipated to be $20 to $30 million

36 INVESTMENT ADVANTAGES

. Trading substantially below book value

. Significant earnings potential on existing assets . High leverage on low cost structure coming out of downturn . Low capital expenditures in 2015 and 2016 . Free cash flow in 2015 . Strong Canadian business that is generating industry leading margins . Strong management team that has managed through numerous cycles . Equipment base not scavenged and ready to go when activity increases

37 SUMMARY

. Number of Outstanding Shares (as of December 31, 2015): • 148.9 million

. Average Daily Volume (one month period): • 783,564 (as of December 31, 2015)

. Directors/Officers Ownership: • 2.0% (approx. - diluted basis)

. Market Cap: • $95 million as of December 31, 2015

38 Investor Presentation

January 2016